YBR launches new entry requirements
Yellow Brick Road has launched a series of new wealth initiatives, including new minimum requirements for employing new financial advisers.
Candidates must now have a minimum Advanced Diploma education qualification and a minimum of two years’ experience within the last three years.
They must also have accumulated continuing professional development (CPD) points for the past three years, or alternatively, completion of Kaplan KUDO skills assessment.
New wealth general manager, Adam Youkhana, also announced a new wealth customer relationship management (CRM), Provisio, which included YBR propriety statements of advice (SOAs), which would enable 80 per cent of advice recommendations to be written in-house.
He also introduced three new index options with total fees of 70 basis points, while making the YBR model portfolios available on Macquarie and Asgard platforms.
The team said it was also building a phone-based advice team to offer customers life insurance and superannuation support over the phone, due to launch in the fourth quarter of this year.
YBR announced its half yearly result yesterday, recording its maiden profit of $400,000.
AUTHOR
Malavika Santhebennur
Recommended for you
A Supreme Court of Western Australia jury has issued its verdict regarding unregistered MIS operator Chris Marco, who was on trial for 43 fraud charges, with ASIC stating the verdict ends a “sorry chapter”.
ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago.
Financial advice practices may be hiring younger or professional year advisers as a succession option, but they may find they are unable to put up the capital if the adviser looks to retire.
Any changes to product labelling for sustainable funds must be applied consistently across investor channels, including those used by financial advisers, according to RIAA.
